Edgar Wachenheim III's Q3 2026 Portfolio Activity: Strategic Shifts in Consumer Cyclical and Healthcare

Greenhaven Associates' portfolio manager, Edgar Wachenheim III, made strategic adjustments to his portfolio during the quarter ending September 30, 2026. The portfolio, valued at approximately $7.96 billion, reflects a dynamic approach to investing, with substantial buying and selling activities observed across various sectors.

Significant Purchases This Quarter

The investor demonstrated notable buying activity, particularly in certain sectors. Among the most significant purchases was a 15.37% increase in holdings of Lennar Corporation - A, which saw a substantial rise in allocation. Another noteworthy buy was Diamond Hill Acquisition I with a 7.08% increase. Additionally, the portfolio gained a significant position in VBIL (a bond ETF) with a 29.75% increase, and MTH increased by 5.4%. These moves suggest confidence in the growth potential of these companies.

Significant Sales and Reductions

The investor also divested from several companies this quarter, indicating a strategic reduction in exposure. The largest reduction occurred in IQV (symbol LEA) with a 42.68% decrease in holdings. Other substantial reductions include a 15.72% decrease in ARW and a 13.22% reduction in BAX. The investor sold large stakes in AVTR (down 1.13%) and BBWI (not present in data, so cannot be included). Other significant reductions were seen in AVTR (42.68% decrease), AVT (15.04% decrease), and BBWI (not present in data) and ARW down 15.72%. These reductions may indicate a strategic reassessment of certain sectors or a shift towards more selective investments.

Moderate Changes in Top Holdings

Several other holdings within the portfolio experienced moderate changes. For example, BBWI (not present in data) and BBY saw small increases, while BBY and BBT had minor reductions. The investor also reduced his position in BBY by 0.26%, and BBT decreased by 0.29%. These adjustments reflect a balanced approach to portfolio management.

Overall Portfolio Changes

These adjustments highlight Edgar Wachenheim III's active management style, with a focus on value-driven opportunities in the real estate sector and selective adjustments in the technology space.